Welcome to our dedicated page for KE Holdings American Depositary Shares (each representing three news (Ticker: BEKE), a resource for investors and traders seeking the latest updates and insights on KE Holdings American Depositary Shares (each representing three stock.
KE Holdings Inc., also known as Beike, is a leading real estate platform based in Beijing, China. Founded in 2001, the company operates an integrated online and offline platform for housing transactions and services. Beike facilitates various housing transactions, including existing and new home sales, home rentals, home renovation, and real estate financial solutions.
The company operates under the brands Lianjia and Deyou, which are trusted names in China's real estate market. Lianjia, a self-owned real estate brokerage store, operates primarily in Beijing and Shanghai, while Deyou functions as a franchise brand in other cities. This hybrid model allows Beike to leverage both online and physical presence to attract a wide range of clients.
In 2022, Beike expanded its service offerings by acquiring Shengdu Home Decoration, entering the home renovation market. As of the end of 2023, the company reported having 39,713 active stores and 372,718 active agents on its platform, highlighting its extensive reach and operational scale.
Financially, Beike has shown robust performance. In the third quarter of 2023, the company announced an increase in its share repurchase program from $1 billion to $2 billion, extending the program until August 2024. This move reflects the company's confidence in its financial health and future growth prospects.
The company's significant partnerships include Tencent, which, along with its affiliates, holds an 8% voting power in Beike. This strategic alliance underscores Beike's strong market position and future growth potential.
Beike's platform also boasts high user engagement, reporting an average of 411,526 mobile monthly active users in the first quarter of 2023. This engagement is a testament to the platform's user-friendly interface and comprehensive service offerings.
For investors, Beike's financial metrics are promising. The company reports both GAAP and non-GAAP financial measures, offering transparency and detailed insights into its financial performance. Key metrics include Gross Transaction Value (GTV), adjusted net income, and EBITDA, all indicating strong operational efficiency and profitability.
Looking forward, Beike aims to continue leading the real estate market in China through innovation, strategic partnerships, and a commitment to excellent service.
KE Holdings Inc. (NYSE: BEKE) announced that key resolutions were approved during its extraordinary general meeting in Beijing. These include the re-designation of 110,116,275 Class A Ordinary Shares and 47,777,775 Class A Ordinary Shares into Class B Ordinary Shares on a 1:1 basis. Also adopted was the Fifth Amended and Restated Memorandum and Articles of Association. Approximately 90.2% of voting share capital participated, with around 97.4% voting in favor of the re-designation. Propitious Global Holdings Limited converted 157,894,050 Class B shares into Class A shares, maintaining the total number of Class B shares unchanged.
BEKE Holdings Inc. (NYSE: BEKE) announced its plan to release unaudited financial results for Q3 2021, scheduled for November 8, 2021, after U.S. market close. Management will host an earnings conference call at 8:00 PM ET on the same day. Participants must register online at least 20 minutes prior to the call. Additionally, a replay will be available until November 16, 2021. BEKE is recognized as a leading platform for housing transactions and services in China, owning Lianjia, a top real estate brokerage brand.
KE Holdings Inc. (NYSE: BEKE) will hold an extraordinary general meeting of shareholders on November 8, 2021, in Beijing. The key agenda item is the proposed Share Re-designation, where 110,116,275 Class A shares and 47,777,775 Class A shares will be converted to Class B shares. Propitious Global Holdings Limited plans to convert 157,894,050 Class B shares into Class A shares, pending approval. The changes aim to maintain the total number of Class B shares unchanged while preserving the voting power of other shareholders. The record date for the meeting is September 29, 2021.
KE Holdings Inc. (BEKE) reported strong financial results for Q2 2021, with net revenues of RMB24.2 billion (US$3.7 billion), up 20.0% year-over-year. The gross transaction value (GTV) reached RMB1,220.8 billion (US$189.1 billion), marking a 22.2% increase. Notably, GTV from new home transactions surged 32.3% to RMB498.3 billion (US$77.2 billion). Despite challenges from market-cooling measures, net income was RMB1,116 million (US$173 million). The company anticipates Q3 revenues of RMB14.5 billion to RMB15.5 billion, reflecting a potential decline from the previous year.
KE Holdings Inc. (NYSE: BEKE) has announced key management changes, appointing Mr. XU Tao as an executive director and Mr. ZHU Hansong as an independent director on its board. Mr. ZHU also joins the compensation and audit committees. The leadership change aims to strengthen the board’s expertise in financial markets and corporate governance. Mr. ZHU brings significant experience from Goldman Sachs, where he was co-head of China Investment Banking. The CEO, Mr. PENG Yongdong, expressed confidence in the new board members' ability to enhance corporate development.
KE Holdings Inc. (BEKE), a top integrated housing platform, will report its unaudited financial results for Q2 2021 on August 11, 2021, following U.S. market close. Management will host an earnings call at 9:00 PM ET on the same day, accessible through registration. The call will provide insights into the company's performance and future outlook. KE Holdings operates Lianjia, a leading real estate brand in China, and leverages 20 years of experience to enhance housing transactions and services.
KE Holdings Inc. (BEKE) announced that Propitious Global Holdings Limited executed an Irrevocable Proxy and Power of Attorney, granting Baihui Partners L.P. voting rights over 885,301,280 Class B ordinary shares. Propitious is controlled by Z&Z Trust, which benefits Mr. ZUO Hui's family. Mr. PENG Yongdong and Mr. SHAN Yigang, partners in Baihui, have a long-standing relationship with Mr. ZUO Hui, emphasizing their united vision for the Company's future. BEKE is a leader in integrated housing transaction services in China, aiming to enhance industry infrastructure.
KE Holdings Inc. (NYSE: BEKE) has announced an agreement to acquire 100% of Shengdu Home Renovation Co., Ltd. for up to RMB8 billion, comprising cash and equity. The acquisition will occur in stages, pending performance targets and customary closing conditions. Shengdu, established in 2002, is a prominent home renovation provider in East China. The acquisition aims to enhance Beike's service capabilities and standardization within the home renovation sector, responding to the growing demand for quality services amid evolving customer needs. The transaction is projected to close in the first half of 2022.
KE Holdings Inc. (NYSE: BEKE) announced significant changes to its board, appointing Mr. PENG Yongdong as the new chairman, succeeding the late Mr. ZUO Hui. Mr. XU Wangang takes on the role of executive director, filling ZUO's vacancy. The board's audit committee will now include Ms. CHEN Xiaohong, Mr. XU, and Ms. CHEN Yu. To honor ZUO's legacy, he will be recognized as Chairman Emeritus. Additionally, key shareholders have agreed not to sell any shares for the next 365 days, ensuring stability amid these leadership transitions.
KE Holdings Inc. (NYSE: BEKE) announces with sorrow the passing of Mr. Zuo Hui, the founder and chairman, on May 20, 2021. Under his visionary leadership, the company grew into a leading platform for housing transactions and services. Mr. Zuo significantly contributed to the development of the Beike platform and the housing industry in China. The CEO, Peng Yongdong, expressed deep condolences and affirmed the company's commitment to its mission and stakeholders. The board will address corporate governance in the coming weeks.
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